Tim - I've successfully tested an enhanced version of the LispFunction posted above (now simply named "CapsLock"), and am able to successfully toggle the CapsLock and not just test for current status.
Before I post, I just have to revise my IF statement to allow for user-specified On (T) / Off (Nil), as currently either T or Nil as Argument will toggle (which is not what we want). I will post back source and compiled code for your use.